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DEPARTMENT OF STATE REVENUE

Departmental Notice #3
November 2012
Interest Rates for Calendar Year 2013


This document does not meet the definition of a "statement" required to be published in the Indiana Register under IC 4-22-7-7. However, under IC 6-8.1-10-1, the Commissioner is required to establish the applicable interest rates for tax overpayments and underpayments that will take effect for the immediately succeeding calendar year. The purpose of this notice is to inform the public of the interest rates that will be effective beginning January 1, 2013.

The rate of interest for an underpayment of tax and an excess tax payment is the percentage rounded to the nearest whole number that equals two percentage points above the average investment yield on state money for the state's fiscal year ending June 30, 2012, excluding pension fund investments, as provided by the State Treasurer's office. The rate of interest for an underpayment of tax and an excess tax payment for calendar year 2013 will be 3%.

A historical list of the above calculated percentages is attached to this document.

Indiana Department of Revenue
_________________________
Michael J. Alley
Commissioner

HISTORICAL INTEREST RATE LIST
  YEAR  OVERPAYMENTS  DELINQUENT PAYMENTS 
  1989  10%  10% 
  1990  10%  10% 
  1991  10%  10% 
  1992  8%  8% 
  1993  7%  7% 
  1994  7%  7% 
  1995  4%  6% 
  1996  5%  7% 
  1997  5%  7% 
  1998  5%  7% 
  1999  5%  7% 
  2000  5%  7% 
  2001  6%  8% 
  2002  6%  8% 
  2003  4%  6% 
  2004  2%  4% 
  2005  1%  3% 
  2006  2%  4% 
  2007 (Jan.1 to June 30)  3%  5% 
  2007 (July 1 to Dec. 31)  5%  5% 
  2008  7%  7% 
  2009  7%  7% 
  2010  4%  4% 
  2011  9%  9% 
  2012  4%  4% 
  2013  3%  3% 

Posted: 10/31/2012 by Legislative Services Agency

DIN: 20121031-IR-045120571NRA
Composed: Oct 25,2014 2:31:48PM EDT
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